On July 9, President Trump took to social media to announce updated tariffs targeting eight countries, which will come into effect on August 1. The news follows the announcement two days earlier of revised tariffs against 14 countries and the extension of the postponement of country-specific reciprocal tariffs, until August 1. The revised tariff rates range from 20% to 50%. As with the previously announced duties, the updated rates include hikes for some countries as…
On April 8, 2021, the US Treasury Department published an updated List of Countries Requiring Cooperation With An International Boycott (the “Treasury List”). Significantly, Treasury announced that it had removed the UAE from the Treasury List following the UAE’s repeal of its law requiring participation with the Arab League Boycott of Israel and subsequent implementation of the new policy. In connection with its establishment of full diplomatic ties with Israel last year under the UAE-Israel Abraham Accords,…
On October 13, 2020, the Treasury Department published in the Federal Register a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to the Department of the Treasury, the following countries require or may require participation in, or cooperation with, an international boycott: Iraq, Kuwait,…
On October 10, 2019, the Department of the Treasury published in the Federal Register a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to Treasury, the following countries require or may require participation in, or cooperation with, an international boycott: Iraq, Kuwait, Lebanon, Libya,…
On February 6, 2019, the Treasury Department published in the Federal Register a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to Treasury, the following countries require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3)…
On May 21, 2018, the Federal Register published Presidential Notice of May 18, 2018 Continuation of the National Emergency With Respect to the Stabilization of Iraq, which continues for an additional year the national emergency first declared on May 22, 2003, by Executive Order (EO) 13303,
On May 16, 2018, the Department of the Treasury published in the Federal Register, in accordance with section 999(a)(3) of the Internal Revenue Code of 1986 (IRC), a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the IRC). On the basis of the best information currently available to Treasury, the following countries require or may require participation in, or…
On January 8, 2018, the Department of the Treasury published a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986).
On December 28, 2017, the Office of Foreign Assets Control (OFAC) published in the Federal Register a final rule amending the Iraq Stabilization and Insurgency Sanctions Regulations (31 C.F.R. part 576) to implement Executive Order (E.O.) 13668 of May 27, 2014 (“Ending Immunities Granted to the Development Fund for Iraq and Certain Other Iraqi Property and Interests in Property Pursuant to Executive Order 13303, as Amended”). The amendments also implement certain technical and conforming changes.
On May 18, 2017, the Federal Register published Presidential Notice of May 16, 2017 – Continuation of the National Emergency With Respect to the Stabilization of Iraq which extends for an additional year the national emergency first declared on May 22, 2003, by Executive Order (EO) 13303,